Same Store Sales growth at 15%, channel inventory ratio at 3.9 times, total franchised outlets reached 7,263
HONG KONG, Jan. 14, 2011 /PRNewswire-Asia/ -- 361 Degrees International Limited ("361 Degrees" or the "Company", together with its subsidiaries, the "Group"; HKEx stock code: 1361), one of the leading sports brand enterprises in China, is pleased to announce that its same store sales for the fourth quarter of calendar year 2010 was a growth of 15% compared with the same quarter last year. This growth rate was based on returns submitted by 2,538 retail outlets, all of which had been in operation for more than two years.
As at the end of December, the channel inventory was 3.9 times monthly sales, based on the returns submitted by 4,565 retail outlets throughout the whole of China.
During the quarter to 31 December, 2010, a total of 247 new outlets, on a net basis, were added to the franchise strength of the Group, bringing the year-end total to 7,263. At this rate, the Company is hopeful of achieving its original target of 600-800 new stores for the financial year ending 30 June 2011.
In addition to being an Official Sponsor of the 26th Summer Universiade to be held in Shenzhen on this 12-23 August, the Company is also pleased to announce that it has also secured the sponsorships of sixteen countries, whose university teams will be participating in these Games. These include Germany, Sweden, Holland, Mexico and New Zealand. A total of about 13,000 athletes and team officials from 180 countries are expected to take part.
About 361 Degrees International Limited
361 Degrees International Limited is one of the leading sports brand enterprises in China, possessing brand marketing, research and development, design, manufacturing, distribution and retail capabilities. The Group's products include footwear, apparel, accessories and equipment for sport and leisure uses. The Group has established an extensive supply chain management system through proprietary and sub-contracted manufacturing operations; and an exclusive distribution and retail network in China through distribution via authorized distributors.
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iPR Ogilvy LTD.
| Natalie Tam / Charis Yau / Summer Si / Janis Lai | |
| Tel: | +852-2136-6182 / +852-2136-6183 / +852-2136-6953 / +852-3920-7646 |
| Fax: | +852-3170-6606 |
| Email: | natalie.tam@iprogilvy.com / charis.yau@iprogilvy.com / |
| summer.si@iprogilvy.com / janis.lai@iprogilvy.com | |
361 Degrees International Limited
| Chen Yuanfeng | |
| Email: | yuanfeng@361sportshk.com / yuanfengchen@yahoo.com |
